On August 27, Shanxi Coking Co., Ltd. disclosed its 2024 semi-annual financial report on August 26. The data reflected that the company's operating conditions declined in the first half of the year. In detail, Shanxi Coking achieved operating income of 3.945 billion yuan during the reporting period, a decrease of 11.48% compared with the same period last year. At the same time, its parent net profit was 184 million yuan, a sharp drop of 79.92% year-on-year; net profit deducted from non-profit also reached 173 million yuan, a year-on-year decrease of 81.12%.

Regarding the change in operating income, Shanxi Coking explained that this was mainly due to the decrease in sales revenue of coke products and chemical products during the reporting period compared with the same period last year. In particular, the decline in the price of coke products has had a greater impact on the company's revenue.

It is understood that in the first half of 2024, the coke market was affected by sluggish downstream demand, and generally showed a weak operating trend. Prices generally fell, with occasional slight rebound. At the same time, the price fluctuations of coking coal at the upstream raw material end remain highly consistent with the coke market, showing a close correlation between the two. Due to insufficient upstream cost support and weak downstream demand, the profit margins of coke production companies continue to be compressed.